Why Is Gold Over $1700 an Ounce?
With gold bouncing up from $1,668 an ounce on Friday, August 5 to $1,778 on Tuesday, August 9, it was the biggest three-day rally since the start of the great recession...
Economic Commentary
Geithner Won’t Resign After S&P Downgrade of U.S. Securities
On Friday, Standard & Poor's kept its word and downgraded the U.S. credit rating for the first time in history — from AAA to AA+. The action came because the debt...
S&P Downgrade: Does It Portend a Death Spiral?
Standard and Poor’s was blunt in its assessment of America’s deteriorating financial condition when it announced Friday night that it was cutting its credit rating on United States’ Treasury securities from...
U.S. Credit Rating Still at Risk
Moody’s announcement on Tuesday that it would retain its AAA rating of U.S. government sovereign debt as a result of the debt-limit agreement came with a warning: The government must rein...
Debt Ceiling Crisis: Putting Things Into Perspective
The compromise bill that emerged Sunday night from behind closed doors is being loudly trumpeted in an attempt to persuade recalcitrant conservatives in both houses to vote for something — anything...
George Soros Quits Quantum Fund
George Soros recently made a stunning announcement: He would be dissolving all of his non-family aspects of the hedge fund that ultimately made him an authority on all things monetary. ...
Obama: FDR “Fiscal Conservative”
According to President Barack Obama, Franklin D. Roosevelt, long regarded as a free-spending President, was actually “fiscally conservative.” What’s more, said Obama, Roosevelt’s “austerity” hampered the economic recovery being wrought by...
Forbes: U.S. Default a Given
According to no less a source than Forbes magazine, a U.S. default is no longer a question of if. It’s when. In a July 23 article, Forbes’ Addison Wiggin warned readers...
Presidential Candidate Ron Paul’s “Extremism”
Claiming that presidential candidate Ron Paul leads the “economic suicide wing” of the Republican Party, Brent Budowsky, writing for The Hill, says that Paul is the “worst possible role model” for...
The Real Impact of a U.S. Debt Downgrade
When Standard and Poor’s moved up their timeframe for a downgrade on U.S. sovereign debt from three to five years to just 90 days, Dave Beers, Director of the Sovereign Debt...
Obama’s Letter to Americans: Stand Behind Efforts to Raise Debt Limit
President Obama’s open letter to the American people published yesterday in USA Today challenges them “to do something big and meaningful" and stand behind his efforts to raise the debt ceiling....
No Saturday Mail Any More?
The Constitution and the early organization of the federal executive branch properly limited the scope of government activities to a few areas. Education was left to the states or to individual...
Looking for Green Shoots in the Economy
Just a month ago one of the most accurate economic forecasters on the planet looked at the economy and concluded that another recession is 99 percent certain. ...
Fed Insiders Selling Inside Information
In an effort to plug leaks at the Federal Reserve, the U.S.'s central bank issued a statement yesterday that members of the Federal Open Market Committee “will refrain” from sharing insider...
Economists Are at a Loss; So Are Jobs
Once the awful job numbers announced by the Bureau of Labor Statistics job numbers were digested, it was clear that the clairvoyant economists looking into their crystal balls were dead wrong...